LR count: 4000
Restructuring costs: $800M
It shows, $200K per persona laid off. Why son high?
JNPR laid off 440 people and restructuring costs show is $58M.
This is $125k person. Can anyone explain whether each person LR'ed will get $200k severence package. That looks way generous to me.
@gib+1r5XTDvK "They are doing these cuts every quarter since Nov 2023" ????
Nice assessment.
A total of $4.4B allocated to restructuring costs while Chuck has been CEO
Red badge is an opex expense item, so applies to cost savings, but not within a limited org restructure. these will be blue
There's a lot more to that number than what the employee gets - much of this is financial mumbo jumbo, the company has to make some assumptions around things like whether they are pulling forward stock vesting, or whether the laid off employees will use Cisco medical and if so for how long. There can also be things included in the restructuring charge like writing off physical assets that are no longer needed by the employees, or closing offices, or any number of other things. Without knowing all the details of what is included (which companies are not required to break out for external viewers) it's almost impossible to do a realistic comparison of what one company pays vs another for a restructuring.
the $200k number is the average. some SVPs or VPs might end up getting close to a milli while individual GR8 will get a measly $80k.
Post from TheLayoff.com
True for now. 5% again in May and so and so forth. They are doing these cuts every quarter since Nov 2023.
it depends on country regulations as well, some countries in europe have a mandatory high severance package
Is 5% true?
its fully burdened costs. a $100k salary is equivalent to ~$170-$190k in fully burden costs (medical, dental, PTO, etc)
Maybe including red bage.